Switchgear Market by Voltage (< 1 KV, 1–36 KV, 36–72.5 KV, > 72.5 KV), End-User (Transmission & Distribution Utilities and Manufacturing & Process Industries), Equipment (Gas Insulated, Air Insulated, and Circuit Breakers) - Global Forecast to 2022
“The switchgear market is projected to grow at a CAGR of 7.12%, from 2017 to 2022.”
The switchgear market is projected to reach USD 125.10 billion by 2022, at a CAGR of 7.12%, from 2017 to 2022. Continuous growth of constructional and developmental activities, increasing access to electricity in developing countries, and growth in renewable power generation are the major drivers of the switchgear market. Price volatility of raw materials can hinder the growth of the switchgear market.
“The transmission and distribution utilities sub-segment of the end-user segment is expected to grow at the highest CAGR, from 2017 to 2022.”
The transmission and distribution utilities sub-segment of the end-user segment is expected to grow at the highest CAGR, during the forecast period. Switchgears are used extensively to prevent damages of expensive and critical equipment in transmission and distribution utilities. Switchgear reduces the downtime and aid in faster response time. Increasing investments in sub-station automation and smart grids can drive the growth in the transmission and distribution utilities segment of the switchgear market.
“Asia Pacific: The largest market for switchgear in 2016”
The market in Asia Pacific is currently the largest market for switchgear followed by the European market. Rising investments in aging electrical grid infrastructure and increasing electricity demand are driving the switchgear market in the Asia Pacific region.
Breakdown of Primaries:
In-depth interviews have been conducted with various key industry participants, subject matter experts, C-level executives of key market players, and industry consultants, among other experts, to obtain and verify critical qualitative and quantitative information, as well as to assess future market prospects. The distribution of primary interviews is as follows:
By Company Type: Tier 1- 45%, Tier 2- 35%, Tier 3- 20%
By Designation: D-Level- 26%, C-Level- 34%, and Others- 40%
By Region: Americas- 35%, EMEA- 45%, and APAC- 20%,
Note: Others includes product managers, marketing managers, and sales managers.
EMEA denotes Europe, Middle East, and Africa
APAC denotes Asia Pacific
Note: The tier of the companies has been defined on the basis of their total revenue, as of 2016: Tier 1 = > USD 5 billion, Tier 2 = From USD 1 billion to USD 5 billion, and Tier 3 = < USD 1 billion
The leading players in the switchgear market include ABB Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), Eaton Corporation plc (Ireland), and Schneider Electric SE (France).
The report defines, describes, and forecasts the global switchgear market by voltage, equipment, end-user, and region. It also offers a detailed qualitative and quantitative analysis of the market. The report provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also covers various important aspects of the market. These include an analysis of the competitive landscape, market dynamics, market estimates in terms of value, and future trends in the switchgear market.
Why buy this report?
1. The report identifies and addresses key markets for switchgear, which would help manufacturers review the growth in demand.
2. The report helps system providers understand the pulse of the market and provide insights into drivers, restraints, opportunities, and challenges.
3. The report will help key players understand the strategies of their competitors better and will help in making strategic decisions.
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